My knowledge here is very limited but perhaps helpful—or not. In some states, if you have a surety bond or have enough money as verified by a letter of credit or something from your bank that you can personally pay/handle damages including injuries from an automobile accident, you don’t have to carry insurance through a company. You are self-insured. I’m not sure I could sleep at night doing that but I don’t have that kind of money to qualify anyway!
Thanks for this. When I first read through the case I thought that might be the case that FD was self insured through FORE. I will go back and see if this is allowed in CT = YES IT IS.
CT politically for the longest time was dominated by the agendas of the insurance companies, many of whom were headquartered in Hartford, CT. Now most of the insurance companies have left the state and are headquartered elsewhere, but the remnents of the legislation they pushed through Hartford remains.
Found this info on insurance, its interesting:
AUTOMOBILE INSURANCE REQUIREMENTS IN CONNECTICUT
Before January 1, 1994, Connecticut had a no-fault insurance law that required private passenger motor vehicle owners to purchase a basic reparations coverage benefit of $5,000. The benefit paid medical expenses and lost wages incurred due to an injury sustained in an automobile accident without regard to who was at fault. In exchange for this benefit, the no-fault law restricted an innocent accident victim's right to sue the person who was at fault.
Public Act 93-297 repealed the no-fault insurance law. As a result, basic reparations coverage is no longer required.
Instead, a person injured in an automobile accident because of another's negligent operation of a private passenger motor vehicle can seek compensation for their injuries from the at-fault driver and, if necessary, initiate a personal injury lawsuit to determine fault and the amount of damages to be awarded. Under the terms of a standard automobile insurance policy, an insurer has a duty to defend an insured person and a right to recover any payments it makes to an insured from those at fault.
As of July 2008, 12 states have no-fault insurance laws, according to the Insurance Information Institute: Florida, Hawaii, Kansas, Kentucky, Massachusetts, Michigan, Minnesota, New Jersey, New York, North Dakota, Pennsylvania, and Utah.
Insurance or Self-Insurance
The financial security the law requires may be provided through an insurance policy or self-insurance (CGS § 38a-371). Specifically, a person may satisfy the financial security requirement by purchasing an insurance policy complying with state law and issued by or on behalf of an insurer licensed to transact business in the state. If the vehicle is registered in another state, the policy must be issued by or on behalf of an insurer licensed in either this state or the state in which the vehicle is registered.
Alternatively, a person may self-insure, subject to the insurance commissioner's approval. To seek the commissioner's approval, a vehicle owner must provide the commissioner evidence:
1. of his or her, or other appropriate person's, continuing undertaking to perform all obligations imposed by the law;
2. that appropriate provision exists for the prompt and efficient administration of all claims, benefits, and obligations provided under the law; and
3. that reliable financial arrangements, deposits, or commitments exist providing assurance for payment of all obligations the law imposes substantially equivalent to those afforded under an insurance policy complying with the law.
